Countdown to Upwork (UPWK) Q1 Earnings: Wall Street Forecasts for Key Metrics
Wall Street analysts expect Upwork (UPWK) to post quarterly earnings of $0.19 per share in its upcoming report, which indicates a year-over-year increase of 2000%. Revenues are expected to be $186.71 million, up 16.1% from the year-ago quarter.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
In light of this perspective, let's dive into the average estimates of certain Upwork metrics that are commonly tracked and forecasted by Wall Street analysts.
It is projected by analysts that the 'Revenues- Managed services' will reach $26.25 million. The estimate points to a change of +105.6% from the year-ago quarter.
The average prediction of analysts places 'Revenues- Marketplace' at $160.45 million. The estimate indicates a year-over-year change of +8.4%.
Analysts' assessment points toward 'Gross services volume' reaching $1.00 billion. The estimate is in contrast to the year-ago figure of $1 billion.
View all Key Company Metrics for Upwork here>>>
Shares of Upwork have demonstrated returns of -5.7% over the past month compared to the Zacks S&P 500 composite's -2% change. With a Zacks Rank #3 (Hold), UPWK is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Upwork Inc. (UPWK) : Free Stock Analysis Report
